On May 28, 2010 will be a meeting of financial creditors of JSC BTA Bank, which will consider the restructuring plan

/IRBIS, May 5, 2010/ - On May 28, 2010 will be a meeting of financial creditors of BTA Bank JSC (Almaty), which will consider the plan of restructuring the financial indebtedness of the Bank, it's reported today by the press office of the Bank. As indicated in the message, the Bank of May 1, 2010 published an information memorandum containing details of a restructuring plan as well as information on procedures for the creditors vote on the restructuring plan and reporting requirements related thereto. This Information Memorandum published on the official website of the Bank - www.bta.kz/en/investor. "Under the restructuring plan, the requirements of the financial creditors of the Bank will be restructured, so that most creditors will receive cash and new securities of the Bank. Detailed terms of financial restructuring of debt BTA outlined in the Information Memorandum," - stated in the message. It is noted that the restructuring plan provides for the approval of creditors whose claims amount to no less than two-thirds of the debt of the Bank, subject to restructuring. Earlier, the Bank informed of the meeting of the holders of Eurobonds subsidiary TuranAlem Finance BV, scheduled for May 7, 2010, as well as to postpone the date of the EGM BTA Finance Luxembourg SA on May 25, 2010. During the meeting holders of Eurobonds will have to take emergency action on the approval of the restructuring and to authorize the trustee to vote on their behalf at the meeting of creditors. In turn, the shareholders of BTA Finance Luxembourg SA will have to take certain decisions in order to facilitate approval of the restructuring at the meeting of creditors. Instructions for participation in these meetings and the meeting of creditors scheduled for May 28, 2010, set out in the Information Memorandum. The Bank points out that the holders of Eurobonds, so far not received notice of the relevant meeting of creditors, should contact their custodians or other direct participants in Euroclear or Clearstream. These notifications contain instructions and steps to be taken by holders of Eurobonds. In turn, the owners of perpetual preferred securities BTA Finance Luxembourg SA, has not yet received notification of experiencing the extraordinary general meeting of shareholders should contact their custodians or other direct participants in Euroclear or Clearstream. Notifications to shareholders contain instructions about the extraordinary general meeting and the steps to be taken of the beneficial owner. The Bank has also informed its creditors that the restructuring plan referred to in the Information Memorandum and the terms of the production and distribution of new securities of the Bank differ from the plan under the Agreement on the conditions of restructuring of financial indebtedness, signed April 18, 2010 between JSC BTA Bank and the creditors' committee. "Thus, creditors should base their decisions on the restructuring plan set out in the Information Memorandum, and not in the Agreement on the terms of restructuring financial debt" - stated in the message. [2010-05-05]